Kirkland-Led Sports Card Giant Hits $1.3B Value In SPAC Deal

Law360 (April 6, 2021, 6:39 PM EDT) -- Kirkland-led Topps Inc. said Tuesday it agreed to go public through a special purpose acquisition company backed by Mudrick Capital in a deal guided by three law firms in total, valuing the collectibles business at $1.3 billion.

Topps, represented by Kirkland & Ellis LLP, is merging with Mudrick Capital Acquisition Corp. II, a shell company that raised $275 million in an initial public offering in December with the intent of acquiring a private business and taking it public. Such vehicles are often called SPACs, or blank-check companies.

Mudrick Capital is represented by Weil Gotshal & Manges LLP, and Jefferies LLC, which is...

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